![]() ![]() That reflects how defensive cybersecurity spending is dominating budgets, when in reality there needs to be a balance. Gartner’s latest market forecast of the information security and risk management market sees it growing from $167.86 billion last year to $261.48 billion in 2026. “To maximize ROI in the face of budget cuts, CISOs will need to demonstrate investment into proactive tools and capabilities that continuously improve their cyber-resilience,” said Marcus Fowler, CEO of Darktrace. Securities and Exchange Commission that would require companies’ SEC filings to include details on ‘business continuity, contingency, and recovery plans in the event of a cybersecurity incident.’” It states that “the imbalance leaves companies unprepared for the wave of new compliance legislation coming, including new rules proposed by the U.S. MIT Sloan Management Reviews ‘ recent article, An Action Plan for Cyber Resilience, states that the wide imbalance between identification and response, recovery, and business continuity leaves organizations vulnerable to cyberattacks. So a quote from one of my customers was: It’s like having another IT person in the building,” Christy continued.īoston Consulting Group (BCG) found that the typical cybersecurity organization spends 72% of its budget on identifying, protecting and detecting breaches and only 18% on response, recovery and business continuity. ![]() “One of the unique things we do is help people reinstall or repair their cybersecurity assets or other cybersecurity applications. “When we’re talking to organizations, what we’re hearing a lot of is: How can we continue to increase resiliency, increase the way we’re protecting ourselves, even in the face of potentially either lower headcount or tight budgets? And so it makes what we do around cyber-resiliency even more important,” said Christy Wyatt, president and CEO of Absolute Software, in a recent BNN Bloomberg interview. >Don’t miss our special issue: The CIO agenda: The 2023 roadmap for IT leaders.<< However, it’s a challenge for many businesses to shift from reacting to cyberattacks to beefing up their cyber-resiliency. ![]()
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